Ocean Power Technologies, Inc. announced a $0.5 million extension of its contract to continue providing their WAM-V®? 22 Autonomous Surface Vehicle (USV) asset to a US Government Agency Overseas for ongoing autonomous maritime activities. The contract extends through September 30, 2023, and is a testament to the capabilities of the WAM-V®?

ASV and OPT's skilled operators, securing recurring revenues and supporting the company's long-term growth plans and anticipated path to positive cash flow. OPT's WAM-V®?ASV is a leading-edge autonomous surface vehicle that provides versatile, efficient, and cost-effective capabilities for a wide range of maritime applications. Its advanced technology enables it to perform a variety of tasks, including data collection, surveillance, and communication, making it an invaluable asset in maritime exercises and operations.

With this contract extension, OPT continues to strengthen its financial position through recurring revenues from this contract and others like it. This success underscores OPT's commitment to providing innovative and reliable marine solutions and supporting its clients' needs in the ever-evolving maritime landscape.